SILVER SHIELD PREPARES FOR DRILLING -
posted on
Mar 29, 2011 09:02AM
Acquisition, exploration and development of mineral resource properties in Northern Ontario and Mexico with a focus on silver.
CONTRACTS DRILLER FOR WELSH SILVER MINE
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BURLINGTON, ON, March 29 /CNW/ - Silver Shield Resources (TSXV: SSR)
announces that it has been successful in procuring a drill for its
Welsh Silver Mine in Elk Lake, Ontario. The drill is presently occupied
on a drill project but is expected to become free in the next short
while. At that time it will be moved to the Welsh Silver Mine and
commence a minimum 1,200 metre drill project for Silver Shield
Resources (TSXV: SSR). Due to the close proximity of the drilling and
shallow nature of the Welsh Mine mineralization the company expects
holes to be drilled in 100-200 metre lengths. Phase II drilling
completed by the company previously encountered massive mineralized
vein swarming to the south east of the mine. A subsequent small
stripping program that was done in the area located these swarms on
surface and the company is anxious to drill this area as soon as a
drill is available.
With new staking completed in the area by Silver Shield, the Company
feels it has secured its position in this area. Upon geological review,
certain targets hope to be identified on these new claims and a small
number of exploratory drill holes completed. Of particular interest to
the company is the area near the Historic Cotley Mine.
To aid in the Company's already large data base of the mine, a survey of
the area around the mine and to the east of the mine is being
commissioned. The survey report will hopefully identify old markings
and elevations, relevant points including the Welsh shaft, shaft
southeast of Welsh main shaft and the adit to the Welsh Silver Mine and
all drill holes. With this survey it is felt the Company can more
accurately locate the workings and mineralized areas of the mine on
previous technical reports and aid in the new drilling.
Tim D. Towers commented, "In these times of rapidly escalating prices of
Silver, and experts predicating higher prices to come, we feel we have
a real gem in this former producing Silver Mine. The close proximity
of infrastructure and ease of access taken in conjunction with past
results excites me. The demand for drills has hindered us in acquiring
one, but since this has now been accomplished we can't wait for the rig
to be available! Our shareholders have been patient and supportive and
we look forward to rewarding their patience. I urge all investors to
review our original 43-101 technical report on the Welsh Silver Mine by
clicking the link at the end of this release. After this drill campaign
we will be updating our original 43-101."
About the Former Producing Welsh Silver Mine
In 1908, The Welsh Silver Mine shaft was sunk on the #1 vein, to 160
feet and levels established at 75' and 150'. On the 75 foot level five
veins were developed, Ag-rich lenses were outlined on these veins, but
were never mined. In 1963 Welsh Silver Mines removed a bulk sample from
the #4 vein that had an average grade of 22 oz Ag/ton.
Approximately 700 metres southeast of the Welsh Shaft another set of
veins occur but in a north-south direction. In 1980 and 1982, 25,568
feet of surface drilling was performed on the Cameron Mine property
immediately north of the SSR property. An underground ramp was
developed in a southerly direction to the SSR claim boundary by
Teck-Lacana in 1983 to prepare the property for production, along with
a total of 3,885.5 feet of underground drilling. These veins were shown
to extend onto the SSR ground and have been the subject of drilling by
both Teck-Lacana and SSR. Recent diamond drilling by Silver Shield has
intersected numerous high-grade silver vein swarms (SCL-08-02 0.15m @ 2,659.5g/t Ag; SCL-08-09 0.20m @ 2,589.2 g/t Ag) over a 200+m strike length tracing the veins south below the thin
Cobalt sedimentary cover. The southern extension of these veins is now
covered by the expanded property.
To view the Welsh Silver Property 43-101 Technical Report, please
follow:
necessary and, depending on market conditions, this funding may not be
forthcoming on a schedule or on terms that facilitate the Company's
plans.
For further information:
please visit >www.silvershieldresources.com Phone: 289-337-616 Fax: 289-337-6678